Apple Computer shares rise to 52-week high

SAN FRANCISCO (MarketWatch) -- Apple Computer Inc.
AAPL, -1.53%
shares climbed to a 52-week high of $87.95 Tuesday in the wake of the latest speculation about a possible so-called "iPhone" coming soon from the company. On Monday, Shaw Wu, Apple analyst with American Technology Research, wrote in a research note that there are reports that Apple is working on what will be its first, Apple-branded wireless phone that will come with the company's iTunes software, and will include Apple's instant-messaging technology. Wu said the release of any Apple "iPhone" remains uncertain. Apple shares pared back slightly in early training, but were still up by $1.11 at $87.58.

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